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USD/JPY has slipped 16 pips and last.....>

DOLLAR-YEN: USD/JPY has slipped 16 pips and last deals at Y109.09, ahead of the
release of Japanese Dec national CPI in a few mins, with both headline & core
figures expected to have dropped since November, remaining nowhere near the
BoJ's 2% target. The yen modestly outperforms its G10 peers at writing, although
the Nikkei 225 is poised to open on the front foot. 
- On Thursday, the rate closed 17 pips higher, as JPY's strength noted in the
Asia-Pac hours faded away. Worth highlighting in U.S. afternoon USD/JPY spiked
higher alongside stocks, touching session high at Y109.40, on the back of WSJ
reports that the U.S. "weighs rolling back China tariffs", but eased off upon
denial from U.S. Tsy. 
- Bears look for a fall back below Y109.00, which would open up Thursday's low
of Y108.69. Meanwhile, initial resistance is located at Thursday's high, ahead
of the 1.0% envelope 10-DMA at Y109.68. 
- Japanese focus next week turns to trade balance due Weds, Nikkei m'fing PMI
due Thurs and Tokyo CPI due Fri. Elsewhere, BoJ MonPol decision due Weds will be
in the spotlight with no policy change exp.

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